CBRE arranged the sale of California Villas, a 35-device multifamily group in Concord. A private buyer acquired from a neighborhood private investor for $9.15 million. CBRE’s Keith Manson, Zachary Greenwood and Mac Watson represented the vendor.
“Multifamily homes of this dimensions almost never grow to be accessible in the I-680/CA-24 corridor,“ stated Manson. “For the earlier two yrs, only seven multifamily communities crafted before 2000, with 30-100 models, have traded in the I-680/CA-24 corridor and we have been privileged to have bought four of all those.”
He extra, “The property’s current upgrades, proximity to key highways and retail facilities were being a big price-include as far more potential buyers look for steady alternatives in today’s economic setting.”
Positioned at 1621 Detroit Ave. in Concord, California Villas incorporates 23 one-bedroom units and 12 two-bed room models, all with air conditioning and personal balconies or patios. The house was created in 1966, and practically 70% of the models been given major inside upgrades less than the seller’s possession.
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